Hines Global REIT has acquired a 20,000 m2 office building in London's Canary Wharf business district from US financial services group TIAA-CREF.
Hines Global REIT has acquired a 20,000 m2 office building in London's Canary Wharf business district from US financial services group TIAA-CREF.
One Westferry Circus is a nine-storey office building located on the western edge of Canary Wharf along the River Thames in Central London.
The 20,000 m2 property is almost fully leased. It is near Canary Wharf underground metro and light rail stations, as well as the future Crossrail railway station, now under construction.
Jones Lang LaSalle represented the seller in the transaction.
The financial details of the transaction were not disclosed. However Property Investor Europe reported the building changed hands for £83 mln (€96 mln).
Hines Global REIT is a public, non-traded real estate investment trust sponsored by US investor Hines that owns interests in 28 real estate investments in US and internationally.
In the UK, the REIT also owns Stonecutter Court, an office building in London, and Brindleyplace, a mixed-use complex in Birmingham.
